This round of rebound ended very quickly. Bitcoin has just fallen below the 64,000 mark. Compared with Ethereum, Bitcoin is too weak. When the expected good news is approaching, there is a risk-averse sentiment of Bitcoin switching to Ethereum.

The current wide range of fluctuations is very similar to absorbing funds. The retail investors' ability to take over below 65,000 is very weak, but the turnover of 70,000-60,000 has been expanding. Now it is not difficult to see that large institutions are taking over. This bull market with high institutional participation has been breaking the conventional perception of the market.

Although the market is still weak at this stage, the rebound expectations of 68,500 and 3,780 remain unchanged. The market welcomed the approval of Ethereum 19b-4 today last month, and now it is not far from the market's expected approval of S-1.